What Could You Do with the U.S. Debt of $14 Trillion?
Here are some ways to wrap your head around $14 trillion of debt.
Jan. 31, 2011 — -- While the debate over whether to lift the federal government's $14.3 trillion debt limit roils in the nation's capitol, the country's total public debt outstanding is growing daily.
That much cash is hard to imagine, even if you're Donald Trump. So with the help of usdebtclock.org, let's first look at what that kind of money can buy, then we'll put the size ofhe debt in perspective.
1. 3,824,812,630 Super Bowl XLV tickets
If the average price of a ticket to this year's Super Bowl at the Cowboys Stadium in Dallas is $3,676, according to Forbes, then the country's debt could buy out 3.8 billion Super Bowl tickets. That could cover attendance for the next 53,122 annual games, if average attendance at a Super Bowl game is 72,000 people. Or we could just invite half the entire population of world, including China and India.
2. 2,422,185 Hines Wards
The vocal wide receiver of the Pittsburgh Steelers has a salary of $5,804,680. That means $14 trillion could buy 2.4 million years of salary for Hines Wards.
3. $45,068.58 per person in the U.S.
The U.S. debt comes to over $45,000 per man, woman and child, given the current U.S. population of 311,969,269.
4. Almost the entire annual output of the U.S.
The U.S. GDP is $14,870.4 billion using current dollars, according to the Commerce Department on Friday. That means the debt is about 95 percent of GDP, the value of all economic activity here.
5. The U.S. defense budget for the next 20 years
The defense budget is $690.8 billion, which means the country's debt could cover this largest budget item for the next 20 years.
6. 9.4 times the U.S. Budget deficit of $1.5 trillion, according to the Congressional Budget Office's 2011 forecast.
7. 58 million homes
Stephen Bronars, senior economist with Welch Consulting, said that at the median home price of $242,000, the deficit could buy over 58 million homes. That would surely boost the sagging housing market.
8. 400 of the country's largest companies
You could buy the country's 400 largest companies, according to their market capitalization, said Bronars. Or you could buy 35 of the equivalent of Exxon Mobil, the largest company in the country, with a market value of $399.52 billion. Or $14 trillion is the equivalent of 35 of Apple Inc., which has a market cap of $310.79 billion.
9. 103 New York State budgets
The nation's debt could cover the cost of 103 NY State budgets, which is $136.5 billion. This year's budget ends on March 31 but the state's budget gap next year is projected to be about $10 billion.